Student loans are complicated, and knowing how your loan servicer works can make the process clearer. Great Lakes Educational Loan Services, also known as GreatLakes Loans, is one of the largest student loan servicers in the U.S. Borrowers also had access to MyGreatLakes, an online platform to manage loans, including payment, balance, and repayment options.
Read on to learn about how GreatLakes loans work, how to access and use MyGreatLakes, and what repayment and forgiveness options borrowers have.
What is MyGreatLakes?
MyGreatLakes is Great Lakes Educational Loan Services’ official online portal for borrowers with federal student loans serviced by Great Lakes. On this platform, users can:
- View current loan balances
- Make and schedule payments
- Explore repayment plans
- Access tax documents
- Track loan status and history
MyGreatLakes provides a secure and user-friendly interface that ensures that borrowers have complete control and transparency over their student loans.
Set up a MyGreatLakes account
You need to set up on the MyGreatLakes website in order to access the full features of your GreatLakes Loans:
- Visit: mygreatlakes.org
- Click on “Log In” and then “Create an Account.”
- Fill in your SSN, your date of birth, and your full name.
- Choose a user name and a password, and then set up security questions.
- Your email and mobile number to receive notifications and updates.
Once you register, you can log in at any time to easily manage your loans.
Loans Serviced By GreatLakes
Remember that Great Lakes services federal student loans, like:
- Direct Subsidized Loans
- Direct Unsubsidized Loans
- Direct PLUS Loans (for parents and graduate students)
- Direct Consolidation Loans
- Federal Family Education Loans (FFEL) (if not consolidated)
(Caution: Recent changes from the federal government may result in certain loan portfolios being assigned to another servicer.) Regularly review your account on StudentAid. gov for updates.
Your Loan Details on MyGreatLakes
When you log in, you see your MyGreatLakes dashboard:
- Total loan balance
- Interest rates
- Types of loans and dates they were distributed
- Current repayment status (In-school, Grace, Repayment, or Deferment)
- Payment amounts and due dates (monthly)
All of this is important for managing your debt and choosing the best repayment plan.
GreatLakes Loans Repayment Options
Borrowers signed up with MyGreatLakes can choose from multiple repayment plans:
- Standard Repayment Plan
- Fixed payments over 10 years.
- Graduated Repayment Plan
- Payments begin slowly and ramp up every two years.
- Extended Repayment Plan
- Loans available up to 25 years fixed or graduated payments
- Income Based Repayment Plans (IDR):
- PAYE, REPAYE, IBR, ICR
- Monthly payments based on income and family size.
- Any remaining balance may be forgiven after 20–25 years of qualifying payments.
You can compare these plans and apply directly through MyGreatLakes or StudentAid. gov.
Submitting Payments to MyGreatLakes
Payment Methods Available:
- If you set up Auto Pay, you will receive a lower interest rate.
- Online Payments Manual; one-off from account
- Over the phone: Through Automated service or representative
- Mail Payments: Physical checks or money orders.
To avoid late payments and minimize interest paid, Auto Pay is strongly recommended.
Programs for Loan Forgiveness and Relief
If GreatLakes Loans qualify, multiple forgiveness options are available:
- Furthermore, PSLF (Public Service Loan Forgiveness)
- For borrowers employed full time at nonprofit or government jobs.
- [Requires 120 qualifying monthly payments under an IDR plan.
- Teacher Loan Forgiveness
- Forgiveness up to $17,500 for some teachers in high-need schools.
- Forgiveness Under Income-Driven Repayment Plans
- The remaining balance is forgiven after 20-25 years on an IDR plan.
Always monitor your eligibility and submit certification forms through the StudentAid process. gov, not just MyGreatLakes.
Options for Deferment and forbearance
Borrowers in financial distress can apply for temporary forbearance via:
- Deferral (e.g., in-school, unemployment, economic hardship)
- Forbearance (e.g., general, mandatory)
For example, you may not accrue interest on subsidized loans during deferment. During forbearance, interest continues to accrue on all loans. If you need to apply for these options, then do so via MyGreatLakes.
Move Away from GreatLakes
The U.S. Department of Education has restructured student loan servicing in the past few years, so some loans may have been transferred away from GreatLakes to servicers like Nelnet, Aidvantage or MOHELA. If your loan got moved, you’ll be notified by email or mail.
You can find your current servicer at StudentAid. You can go to www.fafsa.ed.gov and log in with your FSA ID.
Managing Your GreatLakes Loans — Tips
- Set Up Auto Pay: Missed payment? Lower your interest rate by 0.25%.
- Tips for Updating Contact Info: You want to be alerted of critical changes or deadlines.
- Track Tax Forms: Access your 1098-E student loan interest statement via MyGreatLakes.
- Use Budget Tools: MyGreatLakes has calculators to compare repayment options.
- Get Support Early: Don’t wait until you fall behind — support is available via live chat or phone.
K. Get in touch with MyGreatLakes Support
If you have questions about your loan, or if you need help:
- Website: mygreatlakes.org
- Call: 1-800-236-4300 (Mon–Fri, 7am–9pm CST)
- Mail: Great Lakes, P.O. Box 7860, Madison, WI 53707-7860
Conclusion
This includes federal student loans serviced through GreatLakes Loans by browsing the MyGreatLakes portal. With everything from balance tracking to repayments, MyGreatLakes does it all and allows you to meet your loan needs. Whether you’re in school, in repayment, or examining your options for forgiveness that impact a GreatLakes Loan on your credit report, knowing how to navigate your GreatLakes Loans can lead to better financial implications in the long run and peace of mind.
